Barclays Layoff Thousands, Plans To Reduce Leverage

Jefferies analysts assign a Buy rating to Barclays PLC (NYSE:BCS) (LON:BARC) despite the bank reporting a drop in its fourth-quarter earnings.

Barclays PLC (NYSE:BCS) (LON:BARC) reported a drop in its fourth-quarter earnings amid rising costs and a decline in its investment banking business.

Barclays' leverage reduction plan

Joseph Dickerson and team at Jefferies point out that in regard to the leverage plan, Barclays PLC (NYSE:BCS) (LON:BARC) has announced a net £60 billion of further exposure reduction by 2015 (from end 2013). This, when combined with the £141 billion reduction in leverage in H213, translates into a total leverage reduction from end H113 of...